Trade Details:
20 SPX 2615/2625 Credit Put spreads 0.55 Credit ($1100)
8 SPX 2940/2950 Credit Call spreads 0.95 Credit ($760)
plus
9 SPY Long 295 Calls @0.37 (-$333)
I didn't add the Long Puts in this case
Net Credit: $1527
Days to Expiration: 43
This is for a $100,000 model portfolio.
For a $20,000 portfolio, some tweaks can be made and play 4/4/2/2 + 2 instead ($336 credit overall)
For a $10,000 portfolio, it could be 2/2/1/1 + 1 ($168 credit overall)
Profit picture:
(Click on image to enlarge)
An SPX Chart for future reference and self-study:
(Click on image to enlarge)
20 SPX 2615/2625 Credit Put spreads 0.55 Credit ($1100)
8 SPX 2940/2950 Credit Call spreads 0.95 Credit ($760)
plus
9 SPY Long 295 Calls @0.37 (-$333)
I didn't add the Long Puts in this case
Net Credit: $1527
Days to Expiration: 43
This is for a $100,000 model portfolio.
For a $20,000 portfolio, some tweaks can be made and play 4/4/2/2 + 2 instead ($336 credit overall)
For a $10,000 portfolio, it could be 2/2/1/1 + 1 ($168 credit overall)
Profit picture:
(Click on image to enlarge)
An SPX Chart for future reference and self-study:
(Click on image to enlarge)
Trade Update - Feb 5, 2018
Closed the Call side of the Elephant:
CLOSED 8 SPX 2940/2950 Credit Call spreads 0.15 Debit
Original credit received was 0.95. Net gain of 0.80. $640 in dollar terms for 8 spreads.
CLOSED 9 SPY Long 295 Calls @0.08
Original debit pay was 0.37 per. A 0.29 loss, $261 in dollar terms.
Net net, $640 - $261 = $379
profit from the Call side of the Elephant. The maximum potential was $427, so this represents 88.7% of the max profit potential on the Call side.
Planing to redeploy it if a rebound takes place.
Closed the Call side of the Elephant:
CLOSED 8 SPX 2940/2950 Credit Call spreads 0.15 Debit
Original credit received was 0.95. Net gain of 0.80. $640 in dollar terms for 8 spreads.
CLOSED 9 SPY Long 295 Calls @0.08
Original debit pay was 0.37 per. A 0.29 loss, $261 in dollar terms.
Net net, $640 - $261 = $379
profit from the Call side of the Elephant. The maximum potential was $427, so this represents 88.7% of the max profit potential on the Call side.
Planing to redeploy it if a rebound takes place.
Trade Update - Feb 5, 2018
Adjusted the Put side:
CLOSED 20 SPX 2615/2625 Credit Put spreads 2.04 Debit
Original credit received was 0.55. Net loss of 1.49. $2980 in dollar terms for 20 spreads.
OPENED 20 SPX 2400/2390 Credit Put spreads 0.64 Credit ($1280)
Adjusted the Put side:
CLOSED 20 SPX 2615/2625 Credit Put spreads 2.04 Debit
Original credit received was 0.55. Net loss of 1.49. $2980 in dollar terms for 20 spreads.
OPENED 20 SPX 2400/2390 Credit Put spreads 0.64 Credit ($1280)
Trade Update - Feb 6, 2018
CLOSED 20 SPX 2400/2390 Credit Put spreads @1.30 DebitOriginal credit received was 0.64.
Net loss of 0.66. $1320 in dollar terms for 20 spreads.
The March Elephant is now entirely closed and this is the final result per component:
8 SPX 2940/2950 Credit Call spreads $640
9 SPY Long 295 Calls $261
20 SPX 2615/2625 Credit Put spreads $2980
20 SPX 2400/2390 Credit Put spreads $1320
FINAL TOTAL BALANCE: $3921
CLOSED 20 SPX 2400/2390 Credit Put spreads @1.30 DebitOriginal credit received was 0.64.
Net loss of 0.66. $1320 in dollar terms for 20 spreads.
The March Elephant is now entirely closed and this is the final result per component:
8 SPX 2940/2950 Credit Call spreads $640
9 SPY Long 295 Calls $261
20 SPX 2615/2625 Credit Put spreads $2980
20 SPX 2400/2390 Credit Put spreads $1320
FINAL TOTAL BALANCE: $3921
Check out 2018 Track Record
Go to the bottom of this page in order to see the Legal Stuff
No comments:
Post a Comment